A Monaco-based prospective Formula 1 team is moving forward in its plan to apply to enter a race team in the series.
In 2019, an entity headed by the late Adrian Campos and his business partner Salvatore Gandolfo, pictured above, declared that they were working on a new F1 team project. The foundation of the project is their driver management company called Monaco Increase Management, with former F1 driver Pascal Wehrlein among the driver roster.
In June of last year, Gandolfo said the project was still alive but delayed because of the covid crisis. Another hurdle was the way Liberty Media currently distributes official income to teams.
But with new F1 CEO Stefano Domenicali now in charge, and despite Campos’ recent death, Gandolfo is suddenly much more optimistic. Campos, a former Minardi F1 driver, died last month at age 60 from what press reports are calling “sudden coronary disease.” Campos started 17 races in Formula 1 with Minardi in 1987 and 1988. He did not score a point.
Now, Gandolfo says the group is still interested in moving forward with at least an application for an F1 franchise.
“We believe that the recent statements of the new F1 CEO Stefano Domenicali, suggesting that the $200 million entry fee for new teams could be waived, represent a step forward in the right direction,” Gandolfo said on Monday.
“We appreciate the open attitude of both Stefano and the FIA and are ready to take the necessary steps in order to have our application finalized,” he added in a statement on the group’s website.
BY GLOBAL MOTORSPORTS MEDIA / Autoweek